Commerce Bancshares (NASDAQ:CBSH) SVP Sells $38,727.90 in Stock

Commerce Bancshares, Inc. (NASDAQ:CBSH) SVP Douglas Neff sold 666 shares of Commerce Bancshares stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $58.15, for a total value of $38,727.90. Following the completion of the transaction, the senior vice president directly owned 11,746 shares in the company, valued at approximately $683,029.90. This represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Commerce Bancshares Trading Down 0.6%

NASDAQ:CBSH traded down $0.33 on Monday, reaching $57.71. 929,202 shares of the stock traded hands, compared to its average volume of 1,234,967. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 2.06 and a beta of 0.59. The company’s 50 day moving average is $58.64 and its 200-day moving average is $53.97. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.01. Commerce Bancshares, Inc. has a 1-year low of $46.99 and a 1-year high of $60.92.

Commerce Bancshares (NASDAQ:CBSH) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.06. The firm had revenue of $498.91 million for the quarter, compared to the consensus estimate of $492.22 million. Commerce Bancshares had a net margin of 26.07% and a return on equity of 14.31%. During the same quarter in the previous year, the company earned $1.14 EPS. Equities research analysts anticipate that Commerce Bancshares, Inc. will post 4.25 EPS for the current fiscal year.

Commerce Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Friday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. Commerce Bancshares’s dividend payout ratio (DPR) is currently 26.63%.

Analysts Set New Price Targets

CBSH has been the topic of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $66.00 price target (up from $59.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Stephens set a $64.00 price objective on Commerce Bancshares and gave the company an “equal weight” rating in a research note on Friday, July 17th. TD Cowen restated a “hold” rating and set a $63.00 target price (up from $62.00) on shares of Commerce Bancshares in a research report on Friday, July 17th. Morgan Stanley reaffirmed a “positive” rating and set a $65.00 target price (up from $61.00) on shares of Commerce Bancshares in a research note on Monday, June 29th. Finally, Raymond James Financial upgraded Commerce Bancshares to a “hold” rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Apriem Advisors raised its holdings in shares of Commerce Bancshares by 5.0% in the fourth quarter. Apriem Advisors now owns 4,018 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 191 shares during the last quarter. Heartland Bank & Trust Co boosted its holdings in Commerce Bancshares by 4.4% during the fourth quarter. Heartland Bank & Trust Co now owns 4,595 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 192 shares during the last quarter. Outlook Wealth Advisors LLC grew its position in Commerce Bancshares by 3.7% in the 4th quarter. Outlook Wealth Advisors LLC now owns 5,934 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 214 shares in the last quarter. Centerpoint Advisory Group grew its position in Commerce Bancshares by 5.0% in the 4th quarter. Centerpoint Advisory Group now owns 4,534 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 215 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Commerce Bancshares by 85.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 216 shares during the last quarter. Institutional investors own 70.26% of the company’s stock.

About Commerce Bancshares

Commerce Bancshares, Inc is a bank holding company primarily engaged in providing a broad range of banking and financial services across the Midwest. Through its principal subsidiary, Commerce Bank, the company offers commercial and consumer banking, treasury management, trust and wealth advisory, and mortgage lending. Its diversified product suite includes deposit and loan products, cash management solutions, capital markets services, and private banking designed to meet the needs of individuals, small businesses, and large corporations.

The company’s commercial banking group delivers tailored credit facilities, equipment and inventory financing, asset-based lending, and merchant services.